Archive for 2017

Take a Break From Funding This Thanksgiving

November 21, 2017
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hug an underwriter

This Thanksgiving… Step back from the daily grind Those merchants eager for your cold calls can wait There’s no need to start worrying about next year just yet It’s Thanksgiving So hug an underwriter Kiss a broker Think about your favorite merchant And pay no attention to the algorithms automating your job Give thanks Because […]

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Cleveland Fed Retracts Their Report on P2P Lending

November 18, 2017
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Federal Reserve Bank of Cleveland

Here’s something you don’t see every day. A paper published by the Federal Reserve Bank of Cleveland about peer-to-peer lending was so dubious, that it has been taken down. Since working paper no. 17-18 and related commentary on peer-to-peer lending were posted on our website on November 9, the authors have received several questions about […]

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Kabbage Taps Debt Capital Markets for a Cool $200 Mil

November 16, 2017
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Kabbage Logo

Kabbage has been accessing the capital markets fast and furiously, most recently on the debt side. Today they’ve announced a new $200 million asset backed revolving credit facility with Credit Suisse. Just a couple of months ago, Kabbage attracted $250 million in equity to its coffers from SoftBank, which the alternative funder will direct toward […]

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The Bad Broker And Merchant Due Diligence

November 15, 2017
Article by:

robbers

There may be a rogue broker on the loose. The scam involves a fraudulent Letter of Intent (LOI) falsely claiming to be that of a major funder designed to resemble the real McCoy. Events like this place a spotlight on the risks associated with this market and is a reminder that not all small businesses […]

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Lights, Camera, Crypto-Transaction – How a Lending Journalist Raised Millions to Build Magic Lamps Through the Murky World of Initial Coin Offerings

November 15, 2017

Magic Lamp

This past July, the winner of the Best Journalist Coverage category at the 2017 LendIt Conference Awards, announced that he would be stepping outside of his journalistic endeavors to raise money for a futuristic lamp company. The product, dubbed Lampix, is described as a lamp with a projector, a camera, specifically placed light-emitting diodes (LEDs), […]

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Check Out The Preliminary Agenda of Broker Fair 2018

November 15, 2017
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Broker Fair 2018 Agenda

The preliminary agenda of Broker Fair 2018 was published to the event’s website on Tuesday evening. While subject to revisions between now and May 14th, Broker Fair is already shaping up to be the hallmark event for the MCA and small business lending industry. Fifteen sponsors have already signed on including National Funding, RapidAdvance, and […]

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Don’t Forget About FastFlex

November 13, 2017
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FastFlex

The OnDeck-Chase partnership isn’t the only game in town when it comes to fast weekly payment bank loans. Wells Fargo announced their own program, called FastFlex, in 2016 as part of a goal to lend $100 Billion to small businesses over five years. deBanked was shown an anonymized bank statement snippet recently of a merchant […]

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From Ineligible to 0% APR – Los Angeles Company Monetizes Startup Leads, Combats Stacking

November 10, 2017
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Credit Cards

Merchants have no shortage of options when it comes to accessing funding in today’s climate. And while MCAs and loan products have become more pervasive, one company’s solution is to reintroduce traditional financing in a strategic manner. Seek Business Capital finds credit card offers and credit lines for the credit-worthy who may not be eligible […]

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MCA Funder Asks Court to Set Aside Default Judgment in Usury Case

November 10, 2017
Article by:

law books

If it wasn’t for the Usury Law Blog, an MCA company may never have known about the default judgment entered against it in Florida for usury, according to documents filed in the case. On Wednesday, the funding company filed a motion to set aside the default judgment and reopen the case on the basis that […]

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Two More Senior Employees Leave SoFi

November 9, 2017
Article by:

news pad

According to the WSJ, SoFi’s head of banking Arkadi Kuhlmann and general manager of asset management Peter Early, are both leaving the firm. The personnel move has to do with the fact that SoFi is no longer pursuing a bank charter while also pulling back on its plans for its asset management business. It has […]

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